Waiting to Exchange - Part 2, the wait goes on!

[TokyoSushi]

Hello! New thread, I don't think there's another one yet... shall we all give a quick update regarding where we're up to?

We:

• Went on market 12th June
• Sold for full asking 6th July too good to be true
• Had an offer accepted on DH dream home, (I didn't really like it but only suitable thing on the market)
• Our buyer pulled out 6th August
• DH dream home owner wouldn't wait and put straight back on market
• We went back on market on 7th August, reduced by £5K
• 4 viewings and 4 offers in next few days
• Offer accepted on 13th august
• Found both of our actual dream home and had offer accepted on 14th August
• Our buyer seems as firm as they can be
• Mortgage offer approved and searches commissioned on new house
• Our buyers seem very, very keen but I have a slight suspicion about how firm their buyer is
• Everybody hoping to move by half term

And so we wait....

The indemnity policy will only cover the cost of the local authority taking enforcement action because building regulation approval was not obtained. Given it is something that the previous owners did and no enforcement action has been taken thus far it seems unlikely that any will be.

Providing you're happy the wall was removed and sufficient support put in its place, which hopefully your surveyor can advise on, then it probably wouldn't worry me. If the wall was removed over 10 years ago it shouldn't bother your mortgage lender either.

@chickcellar they have just said their solicitor never mentioned it when they were buying the house so they never realised it was an issue.

@mildura that is great information, thank you. The surveyor said they could not advise 100% that sufficient support was put in place and we would need to get sight of building regs approval to confirm which is why this has become such a major issue. I am inclined to agree with the fact that seeing all has been OK since they have owned the house (6 years) all should be OK in the future, but it is always a risk. Wall was removed less than 10 years ago, as otherwise it wouldn't be an issue as you rightly say. Maybe if they won't pay for the policy I could get further survey's done?

Keeping my fingers crossed for word today. Trying to hold off calling my solicitor until later today but I am antsy haha!

If the wall was removed more than 6 years ago, and the house has yet to fall down, the chances are it is adequately supported! Any risk would be incredibly small.

The only way to be certain is for the plaster to be removed from an area in order to establish the size of the beam that is taking the weight.

An indemnity policy is unlikely to be more than a couple of hundred pounds.

Pretty sure the house we are selling had it’s load bearing wall removed 9-10 years ago (3 owners ago). There is space for a RSJ (the wall is narrower where the kitchen wall would have been). We have no paperwork and it was not raised as an issue by our solicitor when we purchased. I’d also think our buyer was being fussy if they raised it. Funnily enough the next house we are purchasing has the same conversion - doubt they have the paperwork either but vendors told us it was done 16 years ago. Personally if it’s straightforward, has wall remaining at the opening and been standing a good few years I wouldn’t worry about it. An extension is very different. If you know who did the work that could be reassuring eg our house was owned by an architect when wall was removed- so I was reassured by that.

Our new house - kitchen diner done so long ago I’m not concerned (but vendors may be able to produce paperwork anyway).

We went back for a second viewing after the sale was agreed, met the vendors this time. They were so sweet and really proud of their house. They were also trying to give us everything in it. Including amazing tv and 3 piece suite. I couldn’t take advantage though, if we wanted anything we’d offer them some money.

I had to stop myself from saying I wanted to put in a new kitchen. Didn’t want to offend them as they were so proud of all their improvements. They’ve actually put some great things in which are brilliant bonuses not pointed out by EA eg. Water softener, lots of USB plugs and other electrical devices. Found out whole house had been rewired fairly recently (unusual for type of property to have it done properly due to being concrete so obviously at great expense), also there are some fab fitted wardrobes we didn’t look in last time. The office outside my DH will be working in, is also fully kitted out much better than we expected. Loft has a really good ladder and extra large hatch so you can get furniture up there. They’ve thought of everything! So many beautiful plants and fruit trees were pointed out in the very long garden too. They showed pictures of what it looks like in summer- it looks so gorgeous in bloom.

Obviously we did look at the house properly before we decided to buy it. But having the owners show us around was so helpful as they revealed so many good features the EA missed.

Very excited now and feel we’ve got a great price when I look at all the other stuff on Rightmove. It was worth putting in an offer at asking after 1 working day of it being on the market. Similar properties coming up for £40k more and not as good plots (I don’t think they’ll all go for this, but it’s tiresome when vendors have an unrealistic price in their head).

@milura @purpleflowersinmyhair thanks both for your fab reassurance. I will keep that in mind if I hear anything from my solicitor today. Maybe it is a mountain out a molehill and shouldn't delay anything.

Everything else is ready to go from my side and the seller has started to move out so I know they are ready too. I just wish we had some concrete dates. Inching too close to Christmas and my birthday for comfort now.

I'd like to join in!

We're FTBs and offered on a lovely house on 17th October. The owners are moving into a house they already own and are keen to be out before Christmas, so our exchange is currently set for 10th December, with completion on 17th.

We'd been reasonably lucky with everything up until yesterday when I found out our solicitor hadn't followed the right process for releasing my Lifetime ISA funds! Now looking like exchange may be pushed back just so we can wait for Royal Mail (at this time of year!) to post forms back and forth between us all.

Keeping my fingers crossed we can still move w/c 17th December

Update from my side - seller has agreed to pay for the indemnity insurance and obtain the outstanding certificates that were requested. Hopefully that means we are set to exchange at some point this week. I haven't had confirmation from my solicitor yet as seller told me directly - waiting to see if I hear from him today before I call tomorrow.

purpleflowers your house sounds amazing!!

We have the surveyor coming tomorow for new buyers mortgage company...Do i need to tidy the house to the same standard as if it was a house viewing or can it be more "lived in...?"

We did it!

Exchanged and completed yesterday.

Took 10wks, from offer being accepted to us having the keys. We were FTBs and the house we bought was unoccupied, so no chain.

Thank you all so much for your support and words of wisdom over the past few months, particularly when our first house sale fell through back in September.

Currently sitting on my living room floor, waiting for my sofa to be delivered 🙌🏻

Congrats @IKnowThisMuch - absolutely delighted for you.

Still no exchange on the horizon for me despite the fact we are supposed to complete next Tuesday. Apparently my solicitor is 'busy with other matters'... great!

Congratulations @IKnowThisMuch I am due to complete tomorrow so I shall be glad when I finally hand the keys over.

Looking to exchange on my new build in the next few weeks!

Our bloody buyers!!!
So they finally got their revised mortgage offer, as they threatened pulling out on exchange date if we didn't reduce.
It expires on Monday. So our solicitor has said she can't guarantee the funds will be ready then.
We've asked them to apply for an extension but that's more time. Solicitors shut on 19th. So if we don't exchange by Monday I'm out.

I know why ours is taking so long now, our bloody buyers conveyancers- Countrywide. They are useless!

We found out last week that our buyer needed a more extensive mining search for their mortgage lender (which coincidentally is the same lender we currently have so kind of ridiculous). Countrywide haven't even told our buyer yet and are ignoring all of our solicitors emails. It took them 7 weeks to get back to us with any queries from the homebuyers report. I am so pissed off with them, they are the only thing holding this all up.

We may have to book the mining report and pay for it ourselves, so our buyer can be told if Nationwide will mortgage it or not.

We were aiming for exchange before Christmas but doesn't look like it, and I fear that our vendors may pull out if we don't.

After weeks of nothing it’s been a flurry of activity today! Mortgage offer came through this morning, various emails and documents have been flying back and forth all day and the deposit has been paid. Looks like it’s finally happening!

Congrats @Iknowthismuch!

We finally completed today. Almost 2 years since we started this process. Thank God!

Good luck to everyone still waiting. My story shows that if you wait long enough it can happen eventually!

@WinterBerry7 yippee! Fingers crossed.

@MovingNextYearHopefully congratulations

I'm joining now FTB hoping to exchange before christmas so worried now. offer accepted survey done just dotting i and crossing T's . I don't get why it takes so long. Getting a 2 bed semi in a smallish village near Bury St Edmonds mega excited. The worry and wait is the worst thing. Lawyers for both sides work so slowly.

FINALLY exchanged at 10.30 this morning with completion agreed for tomorrow morning.

Cannot believe this is actually happening - I am a homeowner!!

Congratulations @tiutinkerbell 😁

I'm waiting for confirmation our insurance is in place and then we are hopefully exchanging today for completion on the 14th or 17th. But I won't believe it till it happens....

I’ve exchanged! Completing on Friday but collecting keys Saturday. The relief

Yay @WinterBerry7 congratulations 😊 happy Monday!

We've just exchanged! Completing on Friday.

And just got notice of completion! Thank you for all the congratulations - going to collect the keys this afternoon!